Quantcast
Connect with us

Rep. Katie Porter grills Steve Mnuchin over Deutsche Bank’s suspicious Trump dealings

Published

on

Rep. Katie Porter (D-CA) grilled Treasury Secretary Steve Mnuchin over massive losses posted by Deutsche Bank — and over the lender’s inaction over suspicious transactions by President Donald Trump.

The California Democrat asked Mnuchin during a House Financial Services Committee hearing about the German bank’s recent $3 billion loss, and whether Treasury Department banking deregulation could put investors in its U.S. subsidiary at risk.

ADVERTISEMENT

“How did Deutsche Bank manage to lose $3 billion and not see it coming?” she asked. “How the hell do you lose $3 billion and not see that coming?”

Mnuchin said “a lot of people” lost $3 billion, and he agreed that U.S. officials didn’t want to see that happen again.

“I am familiar with some of their really bad investments, and I find it really hard to believe they made them,” Mnuchin said.

Porter pointed out that Deutsche Bank had failed its own stress tests and engaged in questionable international activity in Iran, Libya, Russia and Syria — and involving the U.S. president.

“It came to light that Deutsche Bank had willfully decided to ignore suspicious activity reports with regard to the president and his son-in-law,” Porter said. “What is your plan to hold Deutsche Bank responsible for failing to do appropriate oversight and respond to the regulatory controls in place with regard to the SARs?”

ADVERTISEMENT

Mnuchin said he could not comment publicly on SARs, which he read news accounts on, but promised to follow up with the committee.

“Are you planning to ask the German banking authority also to do additional oversight of Deutsche Bank, especially now that we regulate them much less than we used to?” Porter said.

Mnuchin tried to assure Porter that Deutsche Bank’s activity would not jeopardize the U.S. financial system, and he promised to speak with his European counterparts about the issue.

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Ukraine begged Trump to raise issue of their captive sailors with Putin — he didn’t and Russia state TV gloated

Published

on

The ongoing impeachment inquiry into President Donald Trump is being painted by Congress and the press against the backdrop of the ongoing war between Russia and the Ukraine.

As more and more sworn deposition transcripts are released, researchers are able to link up the testimony of events with real-time reactions, giving us a remarkable insight into the implications of foreign policy decisions.

Investigative journalist Julia Davis flagged one key part of testimony in the transcript released of the deposition by Ukraine embassy political officer David Holmes.

The transcript reveals Rep. Adam Schiff (D-CA), the former federal prosecutor who chairs the House Intelligence Committee, interviewing Holmes about Ukraine's desperation to set up a meeting with Trump.

Continue Reading

Breaking Banner

‘Something nefarious going on’: Obama deputy chief of staff doesn’t buy White House claims on Trump’s health

Published

on

The deputy chief of staff for operations in the Obama administration broke down on Monday why the White House claims on President Donald Trump's surprise Saturday visit to Walter Reed Hospital.

Jim Messina, who also was the campaign manager for Barack Obama's 2012 re-election campaign, was interviewed Monday on MSNBC's "The Last Word" by anchor Lawrence O'Donnell.

O'Donnell noted the note the White House physician sent to White House press secretary Stephanie Grisham:

[caption id="attachment_1563602" align="aligncenter" width="800"] Memorandum from Dr. Sean Conley to Stephanie Grisham.[/caption]

Continue Reading
 

Breaking Banner

Trump doctor denies the president underwent any ‘neurologic evaluations’ at Walter Reed Hospital

Published

on

The physician to the president claimed that President Donald Trump did not undergo "neurologic" evaluations during a surprise visit to Walter Reed Hospital.

White House press secretary Stephanie Grisham released a picture of a memorandum from Dr. Sean Conley, which was printed on "Office of the Press Secretary" letterhead.

The memo was sent to Grisham.

On Saturday, Grisham had claimed the purpose of the visit was to conduct a "partial" physical. Dr. Conley referred to the visit as an "interim check up."

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image